BMB - Balamara Resources

[rhyslivs]

Re: SSC - Sultan Corporation

SCC have just completed a placement of 41,425,00 shares 2.4c to sophisticated and professional investors to raise $994,200.

Its a good confidence boost knowing that the bigger guys are willing to throw relatively large amounts of cash at Sultan at these levels.

Rhys

 

[rhyslivs]

Re: SSC - Sultan Corporation

Thought I would take my first crack at a more in depth analysis for anyones Information, comments and criticisms appreciated!

Sultan Corporation is a re-cap. It was previously known as Wytomic Limited (WYT) and before that Quadtel Limited (QTL). It recapped in December 06 and the prospectus closed fully subscribed (http://www.delisted.com.au/Company/9011).

There are 546,425,000 shares on issue and 81,500,000 unlisted options. I think these expire in June 2010 with an exercise price of 2c.

Market CAP: 546,425,000 x .019 (previous close price) = 10 - 11 mil

Fully diluted MC is close to 12 mil.

They acquired their flagship Peelwood Zinc/Copper project in May 2007. This project contains the John Fardy Zinc deposit.

The John Fardy deposit is located on freehold land that is not subject to native title and is well situated for infrastructure.

The Peelwood zinc project has several old mines and prospects with zinc-rich volcanics-hosted massive sulphide-style mineralization.

The John Fardy deposit is at an advanced stage of exploration and there are numerous diamond drill hole intersections of massive sulphide mineralization with zinc, copper and silver grades.

John Fardy has a JORC compliant estimate of 862,000t @ 6.7% Zn equiv.

Since the project acquisition they have continued to get high grade intersections and in May 2008 announced that they have engaged Cube Consulting to calculated an upgraded JORC resource. This drilling should almost be complete.

The company has engaged Intermine Engineering Consultants to complete all design and engineering studies. Intermine Engineering Consultants will also manage the processes necessary to obtain regulatory approvals required to commence mining operations at John Fardy.

Due to the near surface nature of the ore body and associated simplicity of future operations it is anticipated that the BFS would conclude in the 1st quarter of 2008-09.

They also just completed a placement of 41,425,00 shares 2.4c to sophisticated and professional investors to raise $994,200.

Its a good confidence boost knowing that the bigger guys are willing to throw relatively large amounts of cash at Sultan at these levels.

At currents levels I see little downside in this stock and alot of potential upside.

There should be a good flow of positive news in the coming weeks with regards to their upgraded John Fardy Resource.

Anyone got any thoughts?

Cheers,

Rhys

 

[rhyslivs]

Re: SSC - Sultan Corporation

For everyones info, just got this email back from the company regarding there upgraded JORC resource for the John Fardy Deposit.

"Sultan is still waiting on the last of the assays to be returned from the lab. Shortly thereafter Cube will finalise the JORC resource and the results will be announced to the market accordingly"

I think we should have it within the next couple of weeks. About how long does it usually take to finalise a JORC once all the assays are received? Couple of weeks since they are only revising?

Hopefully a positive month approaching!

Rhys

 

[rhyslivs]

Re: SSC - Sultan Corporation

Another email I just got from the company:

"Providing the turn-around of samples from the lab progresses as anticipated we would expect the upgraded resource to be announced within a month.

Kind regards

Dean Gathercole"

That isn't long to wait.

The BFS is also underway and quote: "Due to the near surface nature of the ore body and associated simplicity of future operations it is anticipated that the BFS would conclude in the 1st quarter of 2008-09."

This means we will have an upgraded JORC resource and BFS all within this quarter.

At its current Market Cap of around 10mill I feel this stock is heavily discounted.

Should be an exciting few months.

Rhys

 

[mickqld]

Re: SSC - Sultan Corporation

Appendix 4C Quaterly report out.
http://imagesignal.comsec.com.au/asxdata/20080716/pdf/00860524.pdf

They are burning up cash pretty fast. $856,000 last quater. $1.85 million left in cash. Market didnt like it today so far down to 1.5c or 16%.

 

[rhyslivs]

Re: SSC - Sultan Corporation

Mick, they may have expended a fair bit but do you feel it has been wasted?

They have been fairly active in the last quarter. Alot of drilling with some excellent results. That expenditure could be attributed to the upgraded JORC. I would think they would be fairly expensive?

Also, mick, What do you think of the director, Derek?

On another note, where has the discussion gone from this stock!!!

Rhys

 

[rhyslivs]

Re: SSC - Sultan Corporation

Announcement out: Completion of Drilling Program at Peelwood

Looks like they are on track for the upgraded JORC within a couple of weeks.

Good choice of day as well!

Rhys

 

[tch]

Re: SSC - Sultan Corporation

Any more news on SSC? Keep thinking it's hit its bottom (hard to pick I know). It just seems to keep gradually dropping... Down to 1.2c today...

 

[rhyslivs]

Re: SSC - Sultan Corporation

Couple of new substantial holders, people have been acquiring at the bottom!

Sultan have been very quiet over the last 6 months.

 

[YOUNG_TRADER]

Re: SSC - Sultan Corporation

Placement at 0.005 should provide new base

If other micro cap placements are anything to go by (GPN BCN GDA) this should rocket soon, Im guessing they have something in the wings otherwise why would "sophisticated investors" part with their hard earned, next 2-3weeks will be interesting, as usal this is just my speculation

 

[rhyslivs]

Re: SSC - Sultan Corporation

Exellent announcement out today regarding metallurgical testwork results. Its looks like they've got the goods.

This could give it an extra kick along YT.

 

[rhyslivs]

Re: SSC - Sultan Corporation

Excellent announcement out today regarding intention to proceed from explorer to miner.

Still questions to answer regarding funding and timelines but it is a big step in the right direction.

It is getting traded to all buggery at the moment. Up 85% on huge volume.

http://www.asx.com.au/asxpdf/20090820/pdf/31k5wfk64ylt80.pdf

YT you ever manage to get on board?

 

[Narkov]

Re: SSC - Sultan Corporation

I'm happy I stuck with this one. Should have some very good upside in the not too distant future. Time to double up.

 

[bowman]

Re: SSC - Sultan Corporation

There's evidence of insto buying today. Those large odd numbered orders are a bit of a giveaway.

I'm trading it today, but I have a holding from last month and I expect to try and add to it in the coming days.

The prospect of an explorer becoming a miner is always exciting.

Good luck to everyone.

 

[bowman]

Re: SSC - Sultan Corporation

Technically I think Sultan has made all the right noises this week.

A lightly traded triangle consolidation pattern, finishing the week with 2 days of closing on the high with increasing volume.

Another break up seems to be a good bet, and if so this should get on more peoples radar.

 

[bowman]

Re: SSC - Sultan Corporation

A bit closer again to a breakout from the triangle consolidation pattern but the 15c previous high is still proving elusive.

 

[bowman]

Re: SSC - Sultan Corporation

A good finish today with a breakout close at 1.5c. The presentation on the proposed Peelwood copper/zinc mine is worth a read.

I've been trading this and also have a core position. I'm looking for a short term target of 2c at which point I will probably sell half and be free carried with the remaining half.

The last thing I need now is a correction.

Anyone else still on board?

 

[rhyslivs]

Re: SSC - Sultan Corporation

I'm still holding. Very pleased with the way this has panned out in the last month after a somewhat prolonged silence!

I few hurdles still to be cleared but I think it is looking extremely promising; a producer in a year.

Pondering freeing up a little more capital to increase my position even!

We might get a few more months before the correction, it'll happen like clockwork right when some money starts pooring back into these spec stocks.

 

[bowman]

Re: SSC - Sultan Corporation

We might get a few more months before the correction, it'll happen like clockwork right when some money starts pooring back into these spec stocks.

Actually that's one of the reasons I'm concerned now - there's speccies running like mad every day. LOL

Anyway, lets hope this one pans out in the long run.

 

[bowman]

Re: SSC - Sultan Corporation

Tough decision making day today in light of the DOW pullback last night and the general negative market sentiment.

I set my sights a bit lower for now and sold some stock into the buying strength. I now have a smaller core holding but I am free carried from .008c

If the DOW rebounds tonigh I will regret my decision, but that's the nature of the beast.

Whatever happens I'll be looking for opportunities to increase my holdings again. I just don't know when.